https://www.taxtmi.com/caselaws?id=219179 The appellant, a company engaged in manufacturing, successfully claimed additional depreciation of plant and machinery for the AY 2007-08. The ITAT upheld the claim, emphasizing that the machinery did not need to be used in the business of manufacture or production. Additionally, the ITAT allowed deduction under section 80G but remanded the issue for fresh adjudication due to procedural violations. The dispute over the disallowance of excess interest paid was resolved in favor of the assessee, with the ITAT upholding the deletion of the disallowed amount. In the cross-appeals for AY 2008-09, the ITAT allowed the claim of additional depreciation but set aside an issue for fresh adjudication. en-us Wed, 31 Oct 2012 00:00:00 +0530 Thu, 06 Dec 2012 20:48:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219179 The appellant, a company engaged in manufacturing, successfully claimed additional depreciation of plant and machinery for the AY 2007-08. The ITAT upheld the claim, emphasizing that the machinery did not need to be used in the business of manufacture or production. Additionally, the ITAT allowed deduction under section 80G but remanded the issue for fresh adjudication due to procedural violations. The dispute over the disallowance of excess interest paid was resolved in favor of the assessee, with the ITAT upholding the deletion of the disallowed amount. In the cross-appeals for AY 2008-09, the ITAT allowed the claim of additional depreciation but set aside an issue for fresh adjudication. Case-Laws Income Tax Wed, 31 Oct 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219179